Bahrain state fund takes full ownership of supercar-maker McLaren

Bahrain’s sovereign wealth fund has completed a deal to take full ownership of McLaren Group, one of the most revered names in British manufacturing, after years of negotiations to put the company on a stable long-term footing. Sky News understands that McLaren will announce later on Friday that the recapitalisation of the supercar manufacturer and Formula One team shareholder has been concluded.

McLaren Racing, the division which directly houses the F1 and other racing operations, has its own external shareholders following a deal struck during the pandemic. The Woking-based company's convoluted capital structure has acted as a deterrent to global automotive groups' ability to structure a long-term partnership with it in recent years.

Source: News Formal (newsformal.com)

United Kingdom Latest News, United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Verstappen takes dominant win in BahrainFollow live text and audio commentary of the season-opening Bahrain Grand Prix.
Source: BBCSport - 🏆 111. / 51 Read more »

F1 Live: Follow the Bahrain pre-season test as it happensFollow the live action as the Formula 1 Bahrain pre-season test gets under way on Wednesday.
Source: Motorsport - 🏆 11. / 86 Read more »

2024 Bahrain F1 test: Verstappen heads first day by 1.1s from NorrisMax Verstappen and Red Bull ominously topped the first day of Formula 1 2024 winter testing in Bahrain on Wednesday.
Source: Motorsport - 🏆 11. / 86 Read more »

Max Verstappen sets the pace in Bahrain pre-season testingMax Verstappen sets the pace from McLaren's Lando Norris on the opening day of 2024 pre-season testing in Bahrain by a full second as Red Bull's eye-catching new RB20 car made an impressive official track debut.
Source: SkySportsNews - 🏆 60. / 63 Read more »

Bahrain F1 testing: Tech images from the pitlane explainedJoin us as we delve into the Formula 1 technical features on display during the first day of pre-season testing in Bahrain, courtesy of Giorgio Piola and Sutton Images.
Source: Motorsport - 🏆 11. / 86 Read more »

2024 Bahrain F1 test: Sainz quickest from Perez on Day 2Carlos Sainz fired Ferrari to the top of the timesheets after a disrupted second day of 2024 Formula 1 winter testing in Bahrain.
Source: Motorsport - 🏆 11. / 86 Read more »